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42-46 Buchanan St - Princes Square
4,851 SF Retail Condo Unit Offered at $9,493,551 in Glasgow G1 3JX
Investment Highlights
- City centre location.
- Destination property.
- Great footfall area.
Executive Summary
Princes Square comprises a boutique Grade B listed shopping centre opened in its original format in 1988. The property was originally constructed in 1841 as a merchant square building formed over four floors constructed in yellow sandstone. In the 1980's the building was developed by GRE Properties Ltd where the original building was preserved and restored but transformed into a modern shopping centre. Today Glasgow's Princes Square is Scotland's leading speciality shopping centre boasting an unrivalled mix of high street brands, designer labels and independent boutiques. The centre is located on the east side of Buchanan Street, Glasgow's principal retail thoroughfare. Glasgow is the main focus of Scotland’s motorway network. The M8, M77, M73, M80 and M74 - Scotland’s main road link to the south - all converge on the city. Glasgow’s public transport system is one of the most efficient in Britain, integrating buses, trains and an underground system. Queen Street and Central Station are situated within 10 minutes walk of each other, within the city centre.
Property Facts
| Price | $9,493,551 | Sale Type | Investment |
| Unit Size | 4,851 SF | Building Class | B |
| No. Units | 1 | Floors | 4 |
| Total Building Size | 118,625 SF | Typical Floor Size | 29,656 SF |
| Property Type | Retail (Condo) | Year Built | 1841 |
| Property Subtype | Storefront | Lot Size | 1.61 AC |
| Price | $9,493,551 |
| Unit Size | 4,851 SF |
| No. Units | 1 |
| Total Building Size | 118,625 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront |
| Sale Type | Investment |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 29,656 SF |
| Year Built | 1841 |
| Lot Size | 1.61 AC |
1 Unit Available
Unit 42-46
| Unit Size | 4,851 SF | Sale Type | Investment |
| Price | $9,493,551 | Tenure | Freehold |
| Price Per SF | $1,957.03 | Cap Rate | 6.50% |
| Condo Use | Retail | NOI | $617,080.82 |
| Unit Size | 4,851 SF |
| Price | $9,493,551 |
| Price Per SF | $1,957.03 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.50% |
| NOI | $617,080.82 |
Description
The subject property comprises two well configured retail units with prominent frontage to Buchanan Street arranged over ground and basement levels.
Sale Notes
Offers are sought in excess of £7,500,000 exclusive of
VAT for our client’s Heritable Interest.
A purchase at this level would reflect the following yield
profile Net Initial Yield of 6.50%, Reversionary Yield of 7.65%, Equivalent Yield of 7.63%
Yields are calculated based upon purchaser’s costs of 6.65% and our opinion of ERV at £315 per sq ft Zone A.
Internal
Internal
Internal
Amenities
- Atrium
- Food Court
- Property Manager on Site
- Security System
- Storage Space
- Air Conditioning
- Balcony
Nearby Major Retailers
-
Eilidh MacPherson -
Scott Mitchell -
Douglas Wood -
Avison Young
Presented by
42-46 Buchanan St - Princes Square
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